Sandler O’Neill Upgrades Provident Financial Services to Buy

By Ryan Adsit

Sandler O’Neill analyst Mark Fitzgibbon upgraded Provident Financial Services (NYSE: PFS) to Buy today. The company’s shares opened today at $25.42.

According to, Fitzgibbon is a 3-star analyst with an average return of 6.0% and a 62.5% success rate. Fitzgibbon covers the Financial sector, focusing on stocks such as Dime Community Bancshares, People’s United Financial, and Clifton Savings Bancorp.

Provident Financial Services has an analyst consensus of Moderate Buy, with a price target consensus of $28.50.

Provident Financial Services’ market cap is currently $1.64B and has a P/E ratio of 17.36. The company has a book value ratio of 1.2909.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. Last month, Carlos Hernandez, a Director at PFS sold 2,650 shares for a total of $65,079.

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Provident Financial Services, Inc. operates as a holding company for The Provident Bank, which provides banking services to individual and corporate customers in northern and central New Jersey. It attracts deposits from the general public and businesses primarily in the areas surrounding its banking offices and uses those funds, together with funds generated from operations and borrowings, to originate commercial real estate loans, residential mortgage loans, commercial business loans, and consumer loans. It also invests in mortgage backed securities and other permissible investments. The company was founded on January 15, 2003 and is headquartered in Jersey City, NJ.